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Hi everyone,
Click here to access the interest rate tracker. It’s been updated so you can see the best rates offered among the various lending platforms. Also, please consider signing up for new platforms with the referral links posted by the moderator. He updates and maintains the excel spread sheet. I’m sure he’d greatly appreciate it.
Avalanche
Pangolin
This is one the largest automated market makers on Avalanche. Their governance token PNG is used to support their current yields. They have an emission model which cuts daily PNG distributions by half every 4 years. To help offset token inflation they’ve subscribed to Olympus Pro and offer bonds for the PNG-AVAX LP pair. This allows market participants to purchase LP tokens at a discount provided they’re vested for 7 days. None of the interventions to offset inflation seem to be working as PNG continues to make new lows. Nonetheless, its a solid place to secure yield on your favorite tokens.
wETH-AVAX 16% APR
USDC-USDT 11% APR
WBTC-AVAX 26% APR
USDC-DAI 15% APR
AVAX-SPELL 51% APR
gOHM-AVAX 52% APR
JEWEL-AVAX 55% APR
Trader Joe
They’ve branded themselves as the “One-Stop-Shop” platform for DeFi degens. They’re offer trading, yield farming, staking, borrowing and lending services. Unlike PNG, their token went up over 100x at its peak. This in part is credited to xJOE. Users can stake their earned JOE tokens to get xJOE. This entitles them to 0.05% of the fee charged during a swap. Users are incentivized through profit share not to dump their tokens while yield farming.
They also provide borrowing and lending services which means users can deposit assets in single-sided pools. The yields are less competitive but users can avoid impermanent loss.
MIM-TIME 9% APR
WETH-AVAX 19.6% APR
WBTC-AVAX 9.6% APR
USDC.e-USDC 25% APR
AVAX-SPELL 48% APR
BNB-AVAX 15.2% APR
gOHM-AVAX 24% APR
USDT 10.6% APR
xJOE 16.99% APR
Like AAVE you can use your crypto as collateral to borrow any supported asset. This allows users to farm for arbitrage and leverage their position.
Penguin Finance
A gamified DeFi Hub that provides yield farms, staking, and launchpad services. The team is also building mini games to increase engagement and to gamify the DeFi experience. However, it won’t be complete until Avalanche begins supporting Chainlink’s VRF. The total value locked is $66M with most liquidity being concentrated with the ETH-AVAX pool. Their governance token has two incentivized pools on competing AMMs. These pools are earning rewards in four different tokens.
The GameFi experience has the potential to make Penguin Finance more competitive and potentially drain liquidity from other AMMs. We’ve seen how successful DeFi Kingdoms has been with their nuanced AMM model. While we wait for the games to launch we can enjoy the fat yields with the following pools:
ETH-AVAX 24% APR
WBTC-AVAX 26% APR
DAI-USDC 10% APR
LINK-AVAX 26% APR
AVAX-TIME 1630% APR
Yield Yak
This is auto-compounding protocol which unlike Beefy Finance is only deployed on Avalanche. Yield Yak not only auto-compounds LP tokens but also compounds single-sided pools. Like Beefy Finance users don’t earn an additional yield boost with the protocols token. This makes sense given token utility is non-existent for YAK. To get started find the yield that is most attractive on Yield Yak and click the “add liquidity” button to be redirected to the yield source. Deposit the liquidity and return to Yield Yak to deposit your LP token. I actively manage all my farms but Yield Yak maybe useful to passive investors.
USDT 19% APY
WETH 3% APY
USDC 14% APY
WBTC 6% APY
DAI 15% APY
WETH-AVAX 31% APY
USDC-DAI 13% APY
USDC-USDT 13% APY
MIM-USDT-USDC 20% APY
CRA-AVAX 96% APY
Rango Exchange
To get your assets over to Avalanche I strongly recommend you use Rango Exchange. Currently, they’re not charging any additional fees and users could potentially get an airdrop in the future. You’ll be charged network and pool fees so have enough gas to cover the cost. I’ve made two videos on Rango Exchange if you need further guidance.
Quick Tutorial
Full Video Review
DeFi Kingdoms Expansion
JEWEL-AVAX 522% APR
JEWEL-ETH 467% APR
JEWEL-BTC 531% APR
JEWEL-FTM 537% APR
JEWEL-LUNA 413% APR
JEWEL-ONE 584% APR
The yields above are from Serendale on Harmony. With the current block, 35% of the yield is redeemable immediately and the rest is locked until Q3 2022. Let’s say you deposit $24K worth of liquidity into the ETH-JEWEL pool, you’ll be earning $751/week. This is the amount that is immediately redeemable. In contrast to conventional farms, DeFi Kingdoms has created an in game economy for their token JEWEL. This creates robust demand for the token and as a result most farmers are not dumping their farmed tokens. Additionally, once they introduce Land we’re likely to see increased demand to purchase JEWEL and accumulate JEWEL through yield farming.
With the expansion into Avalanche we can expect similar yields with Crystalvale. Although, only a small percentage will be redeemable upfront. Given the success we’ve seen on Harmony, this could be a very lucrative second chance for those who missed out on JEWEL’s massive price rise. If you’re already farming on Avalanche I would pay attention the expansion news. I have a bag of JEWEL staked on Serendale and have tentative plans to stake it on Crystalvale. For this reason, my strategy will be more nuanced than those who provide liquidity. If you’re interested in learning more about my strategy watch the video below.